Financial literacy becomes a cornerstone in general education

Financial literacy becomes a cornerstone in general education

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The Financial Education InitiativeFinancial Literacy Becomes A Cornerstone In General Education is a joint project to improve financial literacy in the general education system. The initiative was launched by the Federal Ministry of Education and the Federal Ministry of Finance in Germany last week. In cooperation with OECD a financial education platform for general education will be built as the basis for the development of a national financial education strategy. 

The Federal Minister of Finance Christian Lindner explains in the following way:

“Financial education is a tool for self-empowerment. (…) Acquiring property and building up wealth are already unnecessarily difficult in Germany. We want to break down barriers here. This also includes improving financial knowledge and supporting independent decisions. I am convinced that in the long run we can create new opportunities for prosperity and asset accumulation with our joint initiative.”

The Federal Minister of Education Bettina Stark-Watzinger continues:

“Financial education is an essential part of general education and also a question of equal opportunities. That’s why we want to strengthen them together. We need financial literacy learning that goes beyond consumer information and empowers people to learn about finance and economics and apply it in their everyday lives.”

There are in this sense many benefits with the Financial Education Initiative as the Ministers’ mentioned above. This besides the fact that making financial literacy a cornerstone of general education puts mathematics and social science etc. more in real life practice. That in the next step very well corresponds to the use of a digital platform for the best possible learning design.

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